(Closed) Open a credit card for foreign travels?

So, I was in Finland last week (yes, Finland, for real!) and I totally forgot about all the foreign transaction fees you wrack up when you use your credit card. Nice thing about it was I didn’t have to exchange ANY money in Finland, just used my CC the entire time (AMEX and VISA). My 4 day stay accumulated over $30 in transaction fees to give you an idea.

However, my work will reimburse all of that thankfully!

Thinking ahead to our tentative two week honeymoon in Canada (we’re in the US), I’m wondering if it’s a good idea to apply for a no foreign transaction fee, no annual fee credit card to use for this trip. We’ll exchange some $ but will want to pay mostly with a credit card.

Yay for coming to Canada on your honeymoon! Depending on how much you plan on spending, a credit card would be a good idea for peace of mind. However most hotel rooms have a safe, so you could always store your extra cash in there and just go out with the amount you will need for the day. Also if you are looking for a credit card, I’d stick with Visa or Master Card. I’m not sure how many merchants accept Discover in Canada (no one I know has one..)

I’d add AMEX to the list of cards which are harder to use outside of the US. 2 places I’ve worked accepted Discover and one was because it’s a duty free on the US border, but that is EXTREMELY rare. Not everywhere takes AMEX either, though it’s a lot more common than Discover.

I would absolutely use a CC without fees. Neither of mine charges fees overseas (I thought that was standard) they just convert whatever I purchase to CAD at the rate when purchased. I thought fees were only charged on bank cards, my bank charges $5 for each foreign transaction!

Canadian merchants accept Visa and MasterCard, many also accept Amex but not all.

There are several Capitol One with no annual fee and no foriegn fees. The latter looks like the best rewards 2% back on travel costs, 1% back on all else. I’m not miles or points.

“I’ve never heard of a credit card charging fees for travel.”

It wasn’t for travel per se, it was for purchases made while inside another country. Usually like $0.16 for $5.50 and it was not a conversion factor because they do that with the base price. However, if I buy something that originates in a different country, but buy it while sitting in my US home, I am not charged a foreign fee.

@Ms. Martian: ooh that’s so confusing! Why is it always referred to a capital one and not just master card? Like I never say “I’m going to put this on my Scotiabank Visa” It’s just a visa! oh well…Thanks for clarifying!

Sorry for the thread-jacking. Back on topic…Also keep in mind if you open up another credit card it will affect your credit rating. If it’s good though then I don’t think this should be an issue. Happy honeymooning!

I think it’s a good idea. We live close enough to the US border that we go often and shop online a fair bit. I have a MasterCard that I’ve neveR noticed any fees being charged for foreign transactions in the states or any European country.

@sienna76: Sorry, yeah that’s what I meant. I have never been charged for purchases made in another country! May have something to do with what our banks are allowed and not allowed to charge here. I will double check my last statement though since I was just in the US 🙂